#bitcoin blasts past $120K, now at $122K (+4% in 24h) as the crypto market cap tops $4T.
Momentum is fueled by:
• Regulatory tailwinds – U.S. 401(k) crypto access + 3 days of ETF inflows
• $50M short squeeze – Liquidations reset funding rates, favouring longs
• Technical strength – Momentum holding above key resistance

Why it matters:
401(k) access opens a $6.3T market to $BTC , ETF AUM at $149.8B signals deepening institutional demand, and stablecoin clarity lowers systemic risk fears.

Next to watch:
#SEC stance on #etf in-kind creations & Aug 11 CPI for rate-cut clues. High leverage (OI $686B) means volatility can cut both ways.#BTCReclaims120K